A recent report released by Brand Finance City in 2023 has positioned Lagos as the fifth most desirable African city for individuals seeking a place to live, work, and invest.
In this comprehensive assessment, Nigeria’s bustling commercial hub scored an impressive 56.7%, securing the fifth spot behind other prominent African cities. Leading the list were Cape Town (South Africa), Cairo (Egypt), Johannesburg (South Africa), and Casablanca (Morocco), with scores of 62.9%, 60.7%, 59.7%, and 59.3%, respectively.
Remarkably, only six African cities managed to secure places among the world’s top 100 cities. Cape Town, Cairo, Johannesburg, Casablanca, Lagos, and Nairobi secured rankings of 60th, 67th, 72nd, 76th, 90th, and 94th, respectively, on a global scale.
On an international level, London (England) emerged as the frontrunner, boasting the highest city brand ranking with a remarkable score of 84.6%. New York (United States) and Paris (France) followed closely in second and third place, attaining scores of 83.0% and 79.7%, respectively.
The foundation of this ranking system was built upon a global survey involving nearly 15,000 respondents from 20 countries across all continents. This extensive poll took place in April 2023 and aimed to gauge perceptions of the world’s top 100 cities.
David Haigh, Chairman and CEO of Brand Finance, elaborated on the significance of the results.
He explained that London’s exceptional performance can be attributed to its global familiarity.
This familiarity allows individuals to form positive associations with the city, fostering perceptions of it as the ideal location to live, work, study, retire, visit, or invest.
Moreover, this deep-rooted understanding of the city’s qualities facilitates economic advantages through increased migration, investment, and tourism.
Lagos’ impressive fifth-place ranking is a testament to its growing desirability and appeal, making it a prominent contender among Africa’s most attractive cities for living, working, and investing.
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